Illinois General Assembly - Bill Status for HB2484

Synopsis As Introduced
Amends the New Markets Development Program Act. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of qualified equity investments at no more than $20,000,000 of tax credits for the primary allocation and no more than $12,000,000 of tax credits for the targeted allocation. Provides that, on or after January 1, 2024, but not more than 120 days after the Community Development Financial Institutions Fund of the United States Department of the Treasury announces allocation awards under a Notice of Funding Availability that was published in the Federal Register on November 22, 2022, $250,000,000 of qualified equity investments for the primary allocation and $150,000,000 of qualified equity investments for the targeted allocation shall be allocated by the Department. Makes other changes. Defines terms. Effective immediately.

Actions

Date	Chamber	Action
2/15/2023	House	Filed with the Clerk by Rep. Jay Hoffman
2/15/2023	House	First Reading
2/15/2023	House	Referred to Rules Committee
2/24/2023	House	Added Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
2/27/2023	House	Added Chief Co-Sponsor Rep. Norine K. Hammond
2/27/2023	House	Added Co-Sponsor Rep. Michael T. Marron
2/27/2023	House	Chief Co-Sponsor Changed to Rep. Norine K. Hammond
3/1/2023	House	Assigned to Revenue & Finance Committee
3/9/2023	House	To Revenue - Tax Credit and Incentives Subcommittee
3/10/2023	House	Rule 19(a) / Re-referred to Rules Committee

×